Online shopping startup Cooky raises $4.5mln
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Online shopping and cooking platform Cooky has raised $4.5 million in a funding round led by Vietnam’s Do Ventures, South Korea’s Nextrans.
The funding will be used for research and development to create more nutritious recipes at a better cost, said Cooky’s founders Dang Hoang Minh and Nguyen Thanh Dai, also founding members of food platform Foody.
The startup aims to become a food-tech company, making shopping and cooking easier and more efficient, making both happen within 30 minutes, said Cooky CEO Minh.
Its app is a combination of an online grocery delivery platform and a cooking delivery service, where customers can shop for ingredients individually or buy a recipe. It has been downloaded more than one million times since it was launched 1.5 years ago.
After the Covid pandemic boosted demand for online shopping, this consumption behavior has been maintained by Vietnam’s young population. With the rapid rise in popularity of online shopping solutions, the country’s e-grocery market is expected to reach $1.5 billion by 2025, Cooky estimates.
Questions & Answers
Q.What is Cooky's primary goal with the new funding it has received?
What is Cooky's primary goal with the new funding it has received?
Cooky intends to use the capital for research and development. The aim is to create more nutritious recipes that are also cost-effective for customers. This supports their ambition to become a food-tech company making shopping and cooking more efficient.
Q.What kind of services does Cooky's app provide to its users?
What kind of services does Cooky's app provide to its users?
The Cooky app combines an online grocery delivery platform with a cooking delivery service. Customers have the option to shop for individual ingredients or purchase a complete recipe, designed to make cooking and shopping easier within 30 minutes.
Q.Which specific investors participated in Cooky's recent funding round?
Which specific investors participated in Cooky's recent funding round?
Cooky’s $4.5 million funding round was led by two investment firms. These were Do Ventures from Vietnam and Nextrans from South Korea, indicating international interest in the startup's growth potential.
Q.What is the estimated market value for e-groceries in Vietnam by 2025?
What is the estimated market value for e-groceries in Vietnam by 2025?
Cooky estimates that Vietnam's e-grocery market is projected to reach $1.5 billion by 2025. This growth is partly attributed to the sustained online shopping habits of Vietnam's young population following the Covid pandemic.
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